Move-In-Ready Multifamily
For Sale
$886,000
1424 Camellia Dr, Munster, IN 46321
Multiunit configuration with functional residential layouts, comfortable bedrooms, and practical finishes.
Property Size4,428 SF
Price / SF$200.09
Days on Market51
Property Features for 1424 Camellia Dr
General Information
Standard status
Active
Size
4,428 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$11,314
Building Details
Tenancy
Multi
Listing Agency:
McCormick Real Estate, Inc.
(219) 663-9300
Listed By:
Jeff McCormick · License #RB14033291
(219) 613-5643
Source:
Exprealty
Added: Sep 8
Changed: Oct 27
Last Checked: Oct 26 at 8:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of McCormick Real Estate, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 1424 Camellia Dr in Munster, Indiana, this 4,428-square-foot multifamily property is configured as a multiunit residential asset. The units feature bright living areas, comfortable bedrooms, and practical interior finishes intended for straightforward upkeep. The property is described as move-in ready, allowing the existing configuration to be placed into use without an identified renovation program.
Exterior improvements include a well-kept yard and maintained curb appeal. The surrounding Munster setting includes schools, medical facilities, parks, and commuter access, all identified as contributors to residential demand in the area. The property combines functional unit layouts with an established residential setting and an exterior that is maintained for everyday occupancy.
Exterior improvements include a well-kept yard and maintained curb appeal. The surrounding Munster setting includes schools, medical facilities, parks, and commuter access, all identified as contributors to residential demand in the area. The property combines functional unit layouts with an established residential setting and an exterior that is maintained for everyday occupancy.
Key Highlights
- 4,428‑square‑foot multifamily property
- Multiunit residential configuration in Munster, Indiana
- Bright living areas and comfortable bedrooms in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,175
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$783,500
$783.5K
Cap Rate 7%
$559,643
$559.6K
Cap Rate 9%
$435,278
$435.3K
Market Conditions
NOI Build-Up for 4,428 SF
Gross rent
$75.5K $17.04/SF
− Vacancy
−$4.2K −$0.95/SF
EGI
$71.2K $16.09/SF
− OpEx
−$32.1K −$7.24/SF
NOI
$39.2K $8.85/SF
Area
Lake County, IN
Vacancy
5.60%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$783,500
Cap Rate 7%
$559,643
Cap Rate 9%
$435,278
Alternative Uses
Best Use
Apartment 5plus
$559.6K
$489.7K – $652.9K
NOI $39,175 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.24M
$1.08M – $1.44M
NOI $86,529 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
Explore this area
Business Placement
Demographics for 46321, IN
23,894
Population
9,786
Households
2.4
Avg Household Size
45
Median Age
48%
College-Educated
96%
High-School Grad
7.6 sq mi
ZIP Area
3,144
Density / Sq Mi
$105,764
Median Household Income
$57,796
Median Earnings
$1,480
Median Rent
$312,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multiunit configuration with functional residential layouts, comfortable bedrooms, and practical finishes.
Where is this multifamily property located?
The property is located at 1424 Camellia Dr Munster, IN.
What is the asking price?
The asking price for this property is $886,000.
What are key features of this property?
This property features: 4,428‑square‑foot multifamily property; Multiunit residential configuration in Munster, Indiana; Bright living areas and comfortable bedrooms in each unit
